The U.S. government's top energy forecaster on Tuesday said in an annual report that world crude oil prices are projected to decline gradually from their 2006 average level through 2015 as new supplies come to market.

However, "after 2015, oil prices will begin to rise as demand continues to grow and higher cost supplies are brought to market," said the report released by the Energy Information Administration.

"In 2030, real world crude oil prices are projected to reach over 59 dollars per barrel in 2005 dollars, or about 95 dollars per barrel in nominal dollars," it said.

The world crude oil prices are expected to be average 57.47 dollars a barrel in 2010 and dip to 49.87 dollars a barrel based in 2005 dollars, according to the report.

The report also said OPEC producers are expected to grab a slightly smaller share of the global oil market by the end of the decade.

OPEC members will produce 34.72 million bpd in 2010, said the report, versus its year-ago projection of 36.67 million bpd. The annual report also lowered OPEC's 2010 market share to 38.1 percent versus last year's estimate of 40 percent.

Source: Xinhua